Examlex
Two groups of participants are asked to rate how likely it is a student will pass a physics exam. Group A is told that in the past only 30% of students have passed this test. Group B is told that this student is one of a sample of students, and among that sample, only 30% passed. Group B is more likely to:
Consumer Price Index
An index measuring the change in the price level of a basket of consumer goods and services purchased by households.
Year 3 Dollars
Year 3 dollars refer to the value of money adjusted for price changes (inflation or deflation) to a specific year's average price level, often used for comparison over different times.
Food Expenditures
The amount of money spent by households or individuals on purchasing food for consumption.
Price Index
A statistical measure that shows changes in the price level of a basket of consumer goods and services over time, often used to monitor inflation or deflation.
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